We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
JinkoSolar (JKS) Introduces Upgraded Tiger Neo Solar Panel
Read MoreHide Full Article
JinkoSolar Holding Co., Ltd. (JKS - Free Report) recently unveiled its second-generation Tiger Neo solar panel family. The upgraded version, which the company claims to be the world's most efficient and powerful solar panel, will be available in three series — 445 watt-peak (Wp) for 54-cell, 615 Wp for 72-cell and 635 Wp for 78-cell. These variants will have module efficiency of up to 22.27%, 23.23% and 22.72%, respectively.
Such enhancements to its already impressive product lineup are likely to boost the demand for JKS’ solar panels.
JinkoSolar’s Growth Prospects
JinkoSolar is one of the largest and most innovative solar module manufacturers in the world. The strong demand for its products can be gauged by its total shipments in the third quarter of 10.9 gigawatts. Of these, approximately 95% were module shipments, which doubled year over year due to strong global demand.
Going forward, per the report from Fortune Business Insights, the global solar market is projected to witness a CAGR of 6.9% over the 2022-2029 period. This entails strong demand for solar and related products. This is likely to benefit solar companies like Jinko Solar, which enjoy a diversified global customer base.
In such a scenario, the recent introduction of the upgraded version of its Tiger Neo solar panels, which ensures technical innovations and improved reliability, may provide a leading edge to the company in the solar world. This can bolster JKS’ prospects for increased demand.
With that being said, backed by strong demand, the company expects the shipment proportion for Tiger Neo to be about 60% of its total shipment in 2023.
Peer Moves
Other solar companies that have an established position in the global solar market and can enjoy the perks of the increased solar demand are as follows:
SolarEdge Technologies’ (SEDG - Free Report) optimized inverter solutions address a broad range of solar market segments. The company enjoys a strong presence in the global solar market. In the third quarter, SolarEdge registered record revenues in 14 European countries, most notably Germany, the Netherlands, France and the U.K.
The long-term earnings growth rate of SolarEdge stands at 34.2%. Shares of SEDG have risen 18.8% in the past year.
Canadian Solar (CSIQ - Free Report) has one of the world’s largest utility-scale solar project development platforms. It caters to a geographically diverse customer base across key markets in the United States, China, Japan, the U.K. and Canada, and emerging markets in Brazil, India, Mexico, Italy, Germany, South Africa and the Middle East.
The Zacks Consensus Estimate for Canadian Solar’s 2023 sales indicates an improvement of 35.7% over the prior-year reported figure. Shares of CSIQ have rallied 55.6% in the past year.
ReneSola (SOL - Free Report) continues to reap the benefits of a steady flow of contracts from the domestic and worldwide customer base. The company aims to boost its growth prospects by adding an incremental project pipeline to its core markets, including the United States, the U.K., Spain, Poland, France, Germany and Hungary.
The Zacks Consensus Estimate for 2023 sales suggests a growth rate of 67.4% from the prior-year reported figure. ReneSola’s shares have increased 11.8% in the past six months.
Price Movement
In a year, shares of JinkoSolar have rallied 29.6% compared with the industry’s growth of 33.6%.
Image: Shutterstock
JinkoSolar (JKS) Introduces Upgraded Tiger Neo Solar Panel
JinkoSolar Holding Co., Ltd. (JKS - Free Report) recently unveiled its second-generation Tiger Neo solar panel family. The upgraded version, which the company claims to be the world's most efficient and powerful solar panel, will be available in three series — 445 watt-peak (Wp) for 54-cell, 615 Wp for 72-cell and 635 Wp for 78-cell. These variants will have module efficiency of up to 22.27%, 23.23% and 22.72%, respectively.
Such enhancements to its already impressive product lineup are likely to boost the demand for JKS’ solar panels.
JinkoSolar’s Growth Prospects
JinkoSolar is one of the largest and most innovative solar module manufacturers in the world. The strong demand for its products can be gauged by its total shipments in the third quarter of 10.9 gigawatts. Of these, approximately 95% were module shipments, which doubled year over year due to strong global demand.
Going forward, per the report from Fortune Business Insights, the global solar market is projected to witness a CAGR of 6.9% over the 2022-2029 period. This entails strong demand for solar and related products. This is likely to benefit solar companies like Jinko Solar, which enjoy a diversified global customer base.
In such a scenario, the recent introduction of the upgraded version of its Tiger Neo solar panels, which ensures technical innovations and improved reliability, may provide a leading edge to the company in the solar world. This can bolster JKS’ prospects for increased demand.
With that being said, backed by strong demand, the company expects the shipment proportion for Tiger Neo to be about 60% of its total shipment in 2023.
Peer Moves
Other solar companies that have an established position in the global solar market and can enjoy the perks of the increased solar demand are as follows:
SolarEdge Technologies’ (SEDG - Free Report) optimized inverter solutions address a broad range of solar market segments. The company enjoys a strong presence in the global solar market. In the third quarter, SolarEdge registered record revenues in 14 European countries, most notably Germany, the Netherlands, France and the U.K.
The long-term earnings growth rate of SolarEdge stands at 34.2%. Shares of SEDG have risen 18.8% in the past year.
Canadian Solar (CSIQ - Free Report) has one of the world’s largest utility-scale solar project development platforms. It caters to a geographically diverse customer base across key markets in the United States, China, Japan, the U.K. and Canada, and emerging markets in Brazil, India, Mexico, Italy, Germany, South Africa and the Middle East.
The Zacks Consensus Estimate for Canadian Solar’s 2023 sales indicates an improvement of 35.7% over the prior-year reported figure. Shares of CSIQ have rallied 55.6% in the past year.
ReneSola (SOL - Free Report) continues to reap the benefits of a steady flow of contracts from the domestic and worldwide customer base. The company aims to boost its growth prospects by adding an incremental project pipeline to its core markets, including the United States, the U.K., Spain, Poland, France, Germany and Hungary.
The Zacks Consensus Estimate for 2023 sales suggests a growth rate of 67.4% from the prior-year reported figure. ReneSola’s shares have increased 11.8% in the past six months.
Price Movement
In a year, shares of JinkoSolar have rallied 29.6% compared with the industry’s growth of 33.6%.
Image Source: Zacks Investment Research
Zacks Rank
JinkoSolar currently sports a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.